Toyota's chairman, Akio Toyoda, believes that transitioning to electric vehicles (EVs) too quickly could have massive repercussions on the automotive industry and result in job losses throughout the supply chain.
Toyoda claims that Toyota has sold around 27 million hybrids since 1997, and those hybrids have had the same carbon footprint as nine million EVs. He argues that EVs are still dirtier than hybrids, especially when charged using electricity from thermal power stations reliant on fossil fuels.
Despite criticism for not fully embracing EVs, Toyota remains the world's largest automaker since 2024, focusing on hybrids and ICE models. The company is committed to hydrogen technology and plans to combine it with combustion engines.
Toyota is expanding its electric lineup with models like bZ Woodland and C-HR. The company also aims to bring back iconic models like Supra and possibly introduce new EVs and hybrids in the U.S. market by 2027.